Segezha received 10.9 billion rubles. loss under IFRS after profit last year
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Net loss of the timber industry holding Segezha Group (part of AFK Sistema, MOEX: AFKS) according to International Financial Reporting Standards (IFRS) for the nine months of this year amounted to 10.897 billion rubles. For the same period last year, the holding received a profit of 7.024 billion rubles. This is reported on website companies.
Segezha Group’s revenue for nine months decreased by 20%, to 63.71 billion rubles. The holding’s OIBDA decreased by 63%, amounting to RUB 7 billion.
For the third quarter, revenue increased by 13% compared to the second quarter, to RUB 23.923 billion. The company said this is due to an increase in sales volumes of finished products, and the effect of the weakening of the ruble against major foreign currencies.
Net loss for the third quarter decreased by 17% compared to the second, to RUB 3.24 billion. The holding’s OIBDA for the third quarter amounted to 3 billion rubles, unchanged compared to the second quarter, and the OIBDA margin was 12%.
About the situation in the timber processing market – in the material “Kommersant” “Boards are difficult to export”.
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